Garmin (GRMN) Hits New 12-Month High at $71.89

Garmin Ltd. (NASDAQ:GRMN) shares hit a new 52-week high on Monday . The stock traded as high as $71.89 and last traded at $71.62, with a volume of 1447095 shares. The stock had previously closed at $71.39.

Several research analysts recently weighed in on the company. Bank of America set a $70.00 target price on Garmin and gave the stock a “sell” rating in a research report on Thursday, November 15th. BidaskClub raised Garmin from a “hold” rating to a “buy” rating in a research report on Saturday, December 15th. Finally, Morgan Stanley cut their target price on Garmin from $77.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Monday, January 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $68.40.

The firm has a market cap of $14.19 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94.

A number of hedge funds and other institutional investors have recently made changes to their positions in GRMN. Oregon Public Employees Retirement Fund increased its holdings in Garmin by 5,916.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,586,799 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 1,560,423 shares in the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in Garmin in the 3rd quarter valued at $75,886,000. Vanguard Group Inc increased its holdings in Garmin by 9.0% in the 3rd quarter. Vanguard Group Inc now owns 12,760,863 shares of the scientific and technical instruments company’s stock valued at $893,899,000 after purchasing an additional 1,057,737 shares in the last quarter. BlackRock Inc. increased its holdings in Garmin by 8.6% in the 3rd quarter. BlackRock Inc. now owns 12,033,536 shares of the scientific and technical instruments company’s stock valued at $842,946,000 after purchasing an additional 947,858 shares in the last quarter. Finally, Wedge Capital Management L L P NC acquired a new stake in Garmin in the 3rd quarter valued at $37,139,000. Hedge funds and other institutional investors own 42.96% of the company’s stock.

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Garmin Company Profile (NASDAQ:GRMN)

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of navigation, communication, and information devices worldwide. It operates through five segments: Auto, Aviation, Marine, Outdoor, and Fitness. The Auto segment offers personal navigation devices; infotainment systems; and action cameras, as well as mobile applications under the Garmin and NAVIGON names.

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